DALLAS and CINCINNATI, Aug. 24, 2021 /PRNewswire/ -- Trive Capital ("Trive"), the Dallas-based private equity firm, has formed Thriving Brands LLC ("Thriving Brands" or the "Company"), in partnership with industry executives Craig Cappozzo and Rolando Collado. Concurrently, Thriving Brands has completed its first acquisition with the purchase of Right Guard and Dry Idea, two leading antiperspirant and deodorant ("APDO") brands, from Henkel Corporation ("Henkel").
Launched in 1960, Right Guard is a global leader in the men's grooming segment with strong brand equity based on a long history of product innovation. The brand primarily serves the men's antiperspirant and deodorant categories globally, but also competes in personal cleansing in select geographies. Dry Idea was founded in 1978 and largely serves the women's APDO category in the United States, Canada, Australia, and neighboring geographies.
Mr. Cappozzo and Mr. Collado are industry leaders with more than 60 years of combined experience and previously worked together at Procter and Gamble ("P&G") before launching their own consulting and sales organizations. Mr. Cappozzo has more than 30 years of consumer packaged goods ("CPG") experience, having served in a variety of leadership roles at P&G, and most recently served as co-founder and Managing Partner of Retail Strategy Partners ("RSP"), a management consulting firm serving a vast breadth of clients in the CPG sector at the c-suite level. Mr. Cappozzo will serve as Chief Executive Officer and Chief Marketing Officer for Thriving Brands. Mr. Collado also brings more than 30 years of CPG experience having served in various leadership roles at P&G, prior to founding and leading OnCall contract sales, which was purchased and became a division of WPP Worldwide. Mr. Collado is also Co-Founder and served as CEO of Promoveo Health, a contract sales organization serving a wide array of CPG clients mostly in the Health and Personal Care categories. Mr. Collado will serve as Chief Operating Officer and Chief Sales Officer for the Company.
Craig Cappozzo stated "We are thrilled to partner with Trive Capital, and to lead the Thriving Brands Company. Together with Trive, we have an aggressive but disciplined growth agenda for the company, focused on buying and building brands in the Personal Health and Hygiene categories, with brands that compete predominantly in the Americas and Western Europe. We have an exceptional group of seasoned functional leaders and experts who we are confident can help us build an exciting company that finds new ways to create value for our consumers, customers, and investors."
David Stinnett, Partner at Trive, stated "We could not be more excited to partner with Craig and Rolando to form Thriving Brands and acquire Right Guard and Dry Idea. From our partnership in Precise Packaging, we saw firsthand the value that can be created in the CPG sector through a disciplined and data-driven approach. We look forward to growing Right Guard and Dry Idea while pursuing strategic acquisitions to build a diversified platform of personal care brands."
Lazard Middle Market served as financing advisor to Trive, and legal counsel was provided by Haynes and Boone LLP.
ABOUT THRIVING BRANDS Headquartered in Cincinnati, OH, Thriving Brands is a consumer products company focused on the development and rejuvenation of consumer brands across the globe. Thriving Brands currently serves the ADPO and personal cleansing categories through the Right Guard and Dry Idea brands and plans to acquire strategic assets in adjacent categories to build a full suite of Thriving Brands that consumers love and trust to meet their personal care needs.
ABOUT TRIVE CAPITAL Trive Capital is a Dallas, Texas based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive's targeted industry sectors and situations.